It is always such a pleasure to attend a real estate settlement, and witness the face of a military buyer using his or her VA Eligibility to purchase a home when they realize they are actually buying a home with No Money Down!
This is a snapshot of the buyers side of the final Hud-1 Statement at today's settlement of 4106 Cardinal Drive, Woodbridge Virginia, 22193. This veteran buyer wrote a contract just over thirty days ago and today we settled on the home. This was a "regular owner sale". Not a short sale, and not a foreclosure. The kind of settlement where both the sellers and buyers as well as their Realtors show up at the settlement table.
Notice the bottom line. It says $3000 goes To The Borrower!
This military veteran has additional reasons to be happy this evening! There were quite a few buyers who wrote offers on this home, however the reason his offer was excepted was because he was flexible and allowed the sellers to remain in the home for 45 additional days so the sellers children could complete the school year. So not only did this veteran buying get his initial deposit back, he also received a rent check from the sellers for the 45 day rental period. That was over $4000!
This is when real estate is the most rewarding. When each party gets a win. The sellers are thrilled and the buyer is very happy with the additional rent money since his first mortgage payment isn't unitl July 1st, 2010! As the saying goes "it all good!"
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Erick Blackwelder or Peggy James of Erick and Company - Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-590-2252 list your property for sale or to purchase a property in Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Cannon Bluff, Meadowbrook Woods, Blooms Crossing, Manassas Park, Beaver Creek, Hunter's Ridge, Brittany, Manassas, Montclair, Dumfries, Occoquan, Dale City, Nokesville, or anywhere in Prince William County
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Note: This real estate blog is written by me Peggy James and it is is my opinion and may not reflect the opinion of Exit Choice Realty 14067 Crown Ct, Woodbridge Virginia 22193.
I have been blogging since 2008 and I am a full time REALTOR® .
Nice story Peggy..You are right this is a great time for Veterans to purchase a home, I wish more would take advantage of this benifit.
Lois, that is exactly why I wrote this post. With the current maket conditiions in the Northern Virginia area, many purchasers are able to get closing costs paid by the seller. Combine that with the use of their VA Eligibilty can help a Veteran buy with similiar results in my post.